X
GoldRepublic
GoldRepublic B.V
View

The Central Committee of the Communist Party of China recently announced its plans to scrap the two-term limit on its presidency, which would mean that Chinese president Xi Jinping can continue in power after the end of his second term in 2022. This news was largely frowned upon by the Western world and is often explained as a step toward an increasingly totalitarian state. But is this a bad development? Or are these plans understandable from a Chinese perspective?

From a Western democratic point of view, it is almost self-evident that there is a recurring and constant shift of power and that the voter can exercise his or her democratic vote during such shifts. Yet in Chinese culture, there typically exists a strong government that sets a course for the country. As such, the Communist Party has held the reigns tightly for the past decades.

This approach, combined with capitalist free market principles of Western societies, has led to an incredible increase in wealth for many Chinese households over the past decade. Millions of Chinese citizens seized the opportunity to escape from poverty and build a better life. Not without success, because for many producers of consumer goods, China has already grown into the largest and most important market in the world.

A New Global Superpower

Newsletter

Sign up for our periodical newsletter to stay informed about the gold and silver markets and special offers.

AFM

GoldRepublic operates under license from the Dutch Authority for the Financial Markets (AFM),
Registration Number 12020650

This website uses cookies

By continuing to use this site you consent to the use of cookies. These are necessary for our site to work properly. For more information read our cookie policy and privacy policy.
Accept cookies